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Zinnia — an enormous monetary expertise agency with help from a big funding agency — has obtained chapter courtroom approval to purchase the life and annuity property of Ebix.
The very best recognized Ebix life and annuity asset is AnnuityNet, an an annuity distribution system that competes with Roper Applied sciences’ iPipeline system and Hexure’s FireLight system for annuity orders.
AnnuityNet was created in 1997 by a bunch of insurance coverage firms and funding corporations.
Ash Sawhney, the president of the Ebix Insurance coverage Options North America unit, plans to maneuver to Zinnia with the Ebix life and annuity operations. He mentioned the Zinnia acquisition is a superb end result for these operations.
“Zinnia has a transparent imaginative and prescient for the longer term,” Sawhney mentioned.
What it means: The techniques you employ to supply shoppers life insurance coverage insurance policies and annuities may have extra options and work higher.
Zinnia: Zinnia is a Greenwich, Connecticut-based expertise firm that after was generally known as SE2. It was shaped from the expertise companies help arm of Safety Profit with backing from Eldridge, a Greenwich, Connecticut-based funding firm that additionally owns companies like Dick Clark Productions, Billboard and The Hollywood Reporter.
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